Black Maple Capital Management Lp buys $780,804 stake in Globalstar (GSAT)

Globalstar (GSAT) : Black Maple Capital Management Lp scooped up 90,000 additional shares in Globalstar during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 684,916 shares of Globalstar which is valued at $780,804.Globalstar makes up approximately 2.00% of Black Maple Capital Management Lp’s portfolio.

Other Hedge Funds, Including , A.r.t. Advisors added GSAT to its portfolio by purchasing 427,299 company shares during the most recent quarter which is valued at $487,121. Globalstar makes up approx 0.02% of A.r.t. Advisors’s portfolio.Rhumbline Advisers reduced its stake in GSAT by selling 281,491 shares or 39.07% in the most recent quarter. The Hedge Fund company now holds 439,027 shares of GSAT which is valued at $500,491.Blackrock Investment Management reduced its stake in GSAT by selling 377,621 shares or 20.71% in the most recent quarter. The Hedge Fund company now holds 1,445,813 shares of GSAT which is valued at $1,648,227.Bienville Capital Management reduced its stake in GSAT by selling 7,836 shares or 16.51% in the most recent quarter. The Hedge Fund company now holds 39,632 shares of GSAT which is valued at $45,180. Globalstar makes up approx 0.01% of Bienville Capital Management’s portfolio.Beck Mack Oliver boosted its stake in GSAT in the latest quarter, The investment management firm added 329,000 additional shares and now holds a total of 20,984,940 shares of Globalstar which is valued at $24,972,079. Globalstar makes up approx 0.86% of Beck Mack Oliver’s portfolio.

Globalstar closed down -0.14 points or -8.97% at $1.42 with 68,39,527 shares getting traded on Thursday. Post opening the session at $1.52, the shares hit an intraday low of $1.42 and an intraday high of $1.73 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Globalstar reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.02. The company had revenue of $25.09 million for the quarter, compared to analysts expectations of $24.26 million. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on Globalstar. Globalstar was Downgraded by Chardan Capital Markets to ” Neutral” on Jun 13, 2016.

Globalstar Inc. provides mobile satellite services including voice and data communications services globally via satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters. It provides various communications services via satellite which include two-way voice communication and data transmissions (Duplex) using mobile or fixed devices and one-way data transmissions (Simplex) using a mobile or fixed device that transmits its location and other information to a central monitoring station which includes certain SPOT and Simplex products. It offers voice and data communication services over its network of in-orbit satellites and its active ground stations (gateways). It also offers hardware and software designs to develop specific applications operating over its network.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Globalstar - Is it time to Sell?

Top Brokerage Firms are advising their investors on Globalstar. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.